August 1, 2013 (click on symbols) : The month starts out with a refreshing of the BYSD Pump & Dump, begun two weeks ago, but which really went bananas last week on some bogus news about a contract bringing in $165,000,000 a month in gross revenues for the next 3 years. This company is an absolute fraud! Yes we said it and what's more, the whole world knows it. Every objective penny stock newsletter without subscribers to screw over has said it. Ask yourself these questions: if these gross revenues were even remotely possible, would the company have a $5 million market cap? Would the big players in the sector not be involved? Would a promotion of the stock be necessary, never mind the blatant Pump & Dump this lie is perpetrating? Would the share price have fallen 66% since the last day that the lying touts issued lying newsletters about this lying company, eight days ago?
So what are the touts on about for Thursday ? How about the company's announcement that it will spin off tomorrow , as a dividend, the very subsiduary that owns this pretend mega deal. But wait! What the touts haven't told you is that the company's press release of Wednesday says that the decision to spin off was made last February, and that the dividend will go to shareholders of the company as of February 28 . Back then, insiders owned almost all of the shares in the company. So in other words, screw the pigeons who bought the stock last week! What's even worse is that we can't find a filing which records that the Board of Directors made this decision last February or ever! Oh and one more thing, where is the application to FINRA? Isn't this supposed to happen tomorrow ? At any rate, even if the deal is true, those who bought the stock recently and those who will get conned into Thursday's Pump & Dump have been victimized.
What puts us beside ourselves is that this stock is still trading at all! With all the cease trading orders coming out these days, we think that it is inevitable that this one will be unceremoniously stopped in its tracks at any time. If you are stupid enough to tread here, tread with caution and review our advisory of last week .
The LFAP Pump & Dump continues today, and although shares have been up over the last couple of sessions on the heels of some news, it is important to note that on each day that this ticker was promoted, overpays* far outnumbered those who profited.
GNCP is another ticker that destroys wallets, always being chock full of overpays on promoted days. Since the current promotion began, the third of the year by the way, shares are off 20%. The stock has already seen a 50% increase in the number of shares issued and outstanding during 2013.
The current NUVI promotion has been an absolute disaster to believers and flippers alike. Shares have been cut in half just within the one week that the current promotion has been ongoing, and by two thirds since the June promotion. Overpays have been dominate on each day that this stock has been promoted.
* traded at a price above the day's closing price
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